Which statement about variable universal life insurance is not true?

Variable universal life insurance is characterized by its flexibility in premium payments and death benefits, as well as the investment component that allows cash value to grow based on the performance of selected investments.

In this type of insurance, the death benefit is adjustable rather than fixed, which means it can vary based on the policyholder's choices regarding premiums and the performance of the investment options selected. The policyholder can increase or decrease the death benefit within certain limits, providing a customizable approach to coverage.

Additionally, the cash value of a variable universal life policy fluctuates based on the performance of the investments chosen by the policyholder, which is a defining feature of this type of insurance. Given these factors, stating that the death benefit is fixed does not accurately reflect the flexible nature of variable universal life insurance. Thus, it is important to understand that while the policy offers significant flexibility, including the potential for varying death benefits, it does not provide a guaranteed or fixed death benefit under all circumstances.